Snippings

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“To understand this let’s take an analogy. Imagine that SCA in face to face commerce had been mandated on banks, but no technological solution was provided. Instead of chip and PIN each bank created its own solution such that every time a consumer approached a PoS device the authentication method they used would be dependent on which bank they chose to interact with. Can we imagine the confusion on adoption day? But this is, in essence, the experience that has been regulated into existence with PSD2 in on-line commerce. The problem is even worse for third-parties trying to build a business using the PSD2 APIs – because in the middle of their smooth, optimised customer journey their customers are redirected to a bank SCA experience which can vary dramatically in terms of friction and user experience.

To solve this the regulators need to take a step back, temporarily drop anti-competition laws and insist that banks come up with a minimum standard for SCA in online commerce, such that consumers know what to expect and third-parties aren’t disadvantaged by variable SCA experiences.”

From “Strong Customer Authentication: where are we now? | The Paypers”.

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“To address the leakage, Russia built two huge data centres and legislated so that companies had to submit every invoice between businesses. It also mandated every retailer to buy new cash registers that were linked securely and directly to the data centres.”

From “Russia’s role in producing the taxman of the future | Financial Times”.

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“Brick-and-mortar businesses, a.k.a. ‘any place of business operating at a fixed, permanent physical premises,’ must accept cash in San Francisco. They may not charge a fee or place any other conditions on its acceptance of cash.”

From “SF ‘Cashless Ban’ FAQ: How to pay cash at Amazon Go, and more questions answered – SFGate”.

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“‘It’s easier to order there,’ she motioned to self-ordering kiosks that accept credit cards.”

From “Cashless SF stores now must take cash: ‘They’re not making it easy’ – SFChronicle.com”.

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“Apple’s VP of Apple Pay Jennifer Bailey today announced a new NFC feature for iPhone: special tags that trigger Apple Pay purchases when tapped”

From “Apple announces support for Apple Pay NFC stickers, partners with Bird scooters and more – 9to5Mac”.

Alternative to QR coes

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Financial hegemony has been indulged for a long time. Groups with first-mover advantage have been enjoying the monopoly benefits brought by financial hegemony. The strong are strong and strong; while more regions and individuals often pay a lot of hard work, but they are just making wedding dresses for others. The weak are weak. Coin Hope hopes to use the technological innovation power given by the times to instigate a new currency journey and create an independent “regional version of Libra”, which we call “Venus”.

From Coin Launches “Venus Plan” – Binance.

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“In a typical election setting with secret ballots, we need:

enforced secrecy: a way for each voter to cast a ballot secretly and no way to prove how they voted (lest they be unduly influenced) individual verifiability: a way for each voter to gain confidence that their own vote was correctly recorded and counted. global verifiability: a way for everyone to gain confidence that all votes were correctly counted and that only eligible voters cast a ballot.”

From “Blockchain and Voting – Benlog”.

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“According to Nomura each new Apple Card user is costing Goldman around $350, which they estimate will take four years for the bank to recuperate those costs and start becoming profitable.”

From “Analysts report Goldman Sachs is paying around $350 for every Apple Card member | iMore”.

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“Specifically, we highlight the potential for private digital currencies to improve welfare within an emerging market with a selfish government. In that setting, we demonstrate that a private digital currency not only improves citizen welfare but also encourages local investment and enhances government welfare.”

From “How Do Private Digital Currencies Affect Government Policy? by Max Raskin, Fahad Saleh, David Yermack :: SSRN”.

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“Most people also still need to bring their IDs in the wallets when driving (or going out). Government-issued identification will probably be the most difficult thing in the wallet to digitize”

From “Apple is going to be the company that kills the wallet — Quartz”.

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